Europe edges down but S&P 500 hits new high

While it hasn’t been the busiest session, the S&P 500 has managed to push to yet another new record high ahead of key earnings this week, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

European markets pressured by trade war fears

Reports that the EU was contemplating retaliation against US tariffs have hobbled stocks on the continent, though the losses remained contained thanks to hopes that diplomacy may yet prevail. Overall the tone today’s session has been very muted, with traders on both sides of the Atlantic holding off ahead of a barrage of economic and corporate data later in the week.

New S&P 500 record

The old adage ‘Never short a quiet market’ remains appropriate as we watch the S&P 500 march t yet another new high. Early reports from earnings season suggest that US companies are easily stepping over lowered expectations, helping to juice the rally even further.